Today the honorable Finance Minister of India announced the union budget 2025 and introduced exemption on custom duties of components that will make mobile phones, televisions, and electric vehicles. This will make the items cheaper in the country.
It is announced that broadband will be expanded to all the secondary schools and Primary Health centres across the country under the new Bharat Net program. So let’s get into the article to check out the announcements that will reduce the pricing of gadgets.
The union Budget 2025 has confirmed the reduction in basic custom duty on mobile phones along with charges and mobile printed circuit board assemblies from 20 percentage to 15 percentage. This change is expected to reduce the cost of imported smartphones and inputs of new raw materials for use in the manufacture of wired headsets, microphones and receivers, USB cables, and fingerprint readers of mobile phones has been reduced from 2.5 percentage to nil.
The custom duty on specified input parts chip that are used to manufacture television panels of LCD or LED has been fully exempted. The custom duty on Cobalt products, LED, zinc, and lithium-ion battery scrap is also not added to the tax list.
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